Off to Japan
The Innovo Group, the maker of Joe’s Jeans, has entered into a three-year deal with a Japanese company to distribute and license Joe’s and Joe’s Jeans in Japan. In the exclusive distribution deal and non-exclusive license agreement, Itochu Corp. will be required to buy at least $20 million in Joe’s and Joe’s Jeans products for distribution and will pay a license royalty fee of 6 percent of net sales of bottoms and 5 percent of net sales of all men’s and women’s tops. “We firmly believe this agreement will allow us to achieve our objective of significantly growing the Joe’s brand in Japan, which is currently our largest international market,” said Innovo Chief Executive Marc Crossman in a statement.
